Wise’s wake-up call for London

Wise, a leading UK fintech, has announced its decision to switch its primary listing from London to New York, raising concerns about the diminishing number of publicly listed companies in the City. This move follows other recent departures, including Cobalt Holdings and Indivior, and highlights the challenges faced by London in retaining tech firms despite recent government reforms aimed at encouraging listings. The current landscape shows a significant imbalance, with takeovers outpacing IPOs and a growing realization that immediate action is needed to support the UK’s capital markets.